Journal Style:
09:42 CET
I've been watching EURUSD. For hours and hours. And I just had the strongest urge to sell into this strength at 1.4084 level for last 2-3 minutes (I was asleep when it went down to 1.4000 level :( and otherwise it was around 1.4030 level). I am however going to wait. The downside to 1.4030-40 seems highly likely short term. And the test of 1.4000 while less likely still not beyond the probable. Flipside: I think another go at 1.4100-10 area has occured every time we pushed into high 1.4080s.
09:47 CET
The price came back 10 pips from where I had urge. That would've been nice. But I have to tell myself I'm not looking for those trades today. I'm looking for the one I can scale into. The one that goes to 1.4030 so I can short more. If we bounce up to 1.4084-88 level again chances are we might move beyond.
09:49 CET
Might as well have tried that 10 pip'er though. Grrr. While I'm waiting for the bigger moves I need feeding (gratification & profits!).
14:10 CET
Decided to go short 100k at 1.4080.
14:13 CET
It's already bid 1.4095 now.
14:40 CET
*gulp* 1.4110 bid - should've checked figs out calendar. ADP just lit up this baby. Sticking in here for 3 hours! Time not price (stop) this time.
15:39 CET
*hmmm* 1.4150 bid - I feel a bit indifferent to the paperloss of 700. I feel slight wish to short, but I'm going to try and keep true to my new rule of never ever averaging down a loser. I'm telling myself when I do get to scale in on a move I'll blow this baby out of the water.
17:25 CET
I wonder if averaging down a loser is allowed if the market is going in direction needed. Not to sell more of something if it's going up still makes a lot of sense. But if the top has been put in... I guess I'd need strong evidence to support that before I could comit any more risk. 1.4137 bid.
15:39 CET
*hmmm* 1.4150 bid - I feel a bit indifferent to the paperloss of 700. I feel slight wish to short, but I'm going to try and keep true to my new rule of never ever averaging down a loser. I'm telling myself when I do get to scale in on a move I'll blow this baby out of the water.
17:25 CET
I wonder if averaging down a loser is allowed if the market is going in direction needed. Not to sell more of something if it's going up still makes a lot of sense. But if the top has been put in... I guess I'd need strong evidence to support that before I could comit any more risk. 1.4137 bid.
17:32 CET
I think I'd fire myself from my trading account if I was not me :D. Look at what I wrote 9:47 and 9:42 - I clearly thought odds were good we'd move to 1.41 and yet I sold at 1.4080. This is just pure stupidity. Insaness?! I think my ego needs to think it can pick a top or a bottom before the market has told me. This works on small stocks when you can change psychology with a decent order short term. But not here. No bluffing possible :D
17:40 CET
3 hours of losing position. Decision time! Decision to hold on for while longer. Highs haven't been seen in over an hour. Below 1.4150 I feel ok. But it's looking like a multi hour sideways mover. Darn it.
18:23 CET
*rolleyes at self* Well 90 pip loser at the moment. But bagged 20 pips just now. So a 70 pip loser on my hands currently. Nice. :S At least I didn't go shorter at 1.4130-40 like I would've not so long ago. I waited a full 100 pips before I moved. I'm becoming a fantastic example of how NOT to trade. Or how most traders start off.
18:23 CET
*rolleyes at self* Well 90 pip loser at the moment. But bagged 20 pips just now. So a 70 pip loser on my hands currently. Nice. :S At least I didn't go shorter at 1.4130-40 like I would've not so long ago. I waited a full 100 pips before I moved. I'm becoming a fantastic example of how NOT to trade. Or how most traders start off.
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